Fidelity MSCI Energy Index ETF (NYSEARCA:FENY) Hits New 52-Week High – Should You Buy?

Fidelity MSCI Energy Index ETF (NYSEARCA:FENY)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $27.78 and last traded at $27.6640, with a volume of 733105 shares. The stock had previously closed at $27.55.

Fidelity MSCI Energy Index ETF Stock Performance

The firm’s fifty day simple moving average is $25.40 and its 200 day simple moving average is $24.70. The stock has a market capitalization of $1.46 billion, a P/E ratio of 15.17 and a beta of 0.77.

Hedge Funds Weigh In On Fidelity MSCI Energy Index ETF

Several hedge funds and other institutional investors have recently modified their holdings of FENY. Valmark Advisers Inc. boosted its position in shares of Fidelity MSCI Energy Index ETF by 1.8% during the second quarter. Valmark Advisers Inc. now owns 23,440 shares of the company’s stock valued at $550,000 after purchasing an additional 420 shares in the last quarter. Capital Investment Advisors LLC increased its stake in Fidelity MSCI Energy Index ETF by 1.7% during the 4th quarter. Capital Investment Advisors LLC now owns 25,431 shares of the company’s stock valued at $630,000 after purchasing an additional 427 shares in the last quarter. LongView Wealth Management grew its holdings in shares of Fidelity MSCI Energy Index ETF by 5.0% during the fourth quarter. LongView Wealth Management now owns 9,256 shares of the company’s stock valued at $237,000 after buying an additional 442 shares during the last quarter. Trail Ridge Investment Advisors LLC raised its holdings in shares of Fidelity MSCI Energy Index ETF by 0.5% during the third quarter. Trail Ridge Investment Advisors LLC now owns 104,963 shares of the company’s stock valued at $2,595,000 after purchasing an additional 472 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC grew its position in Fidelity MSCI Energy Index ETF by 1.8% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 27,710 shares of the company’s stock worth $685,000 after purchasing an additional 487 shares during the period.

About Fidelity MSCI Energy Index ETF

The Fidelity MSCI Energy Index ETF (FENY) is an exchange-traded fund that is based on the MSCI USA IMI Energy 25\u002F50 index, a market-cap-weighted index of US energy companies FENY was launched on Oct 24, 2013 and is managed by Fidelity.